The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-12-02
THE CURRENCY.
The National Banks and Their Business-
Changes in Inc Banking LAM

The National Banks Their Business
Changes i'm the Banking Law.
WAsHINGToN, Dec. 1.-The twenty-ffth an
nual report of the Comptroller of the Currency
now in print, will be presented to Congress on
the first day OF its session. The report shows
that the total number of national banks organ
ized up TO the 3lst of October is 3. sos of which
625 have gone into voluntary liquidation. ll9
have failed, leaving in operation at that date
3,06l. OF this number 3,049 furnished reports
Of condition at the date of the last call. Oct s,
of which complete abstract has been published
The total number of new banks formed during
the last year 225, and the total number
closed during the year was ,hirty-three. of which
twenty Ave went into voluntary liquidation and
eight failed. The new banks comprise FIVE in
New England, thIrty-three in the Middle States,
fifty in the Southern States. IO7 in the Ceutra
States, and thirty in the Western States and Ter
rtories. OF the failed banks, one was in New
England, two in the Middle States, four in tn;
Southern Sta.es. and one in the Central States
The gross increase IN national bank capita
during the year amounts to S36 694, 775, of whicl
s.. Sos, ,O05 represents increase of capital b.
banks existing Nov. l. 1886. There has been
however, decrease of capital of s., ,322 49, OF
which $4.O6I 45O Is the aggregate capital of .hf
thirty three banks which went into voluntary
liquidation and failed, and the remainder repre-
sents q decrease of capital by banks still in op
is, therefore. $50. 572, 325. On the other hand
there is a decrease of $50 495, $50 in the cir
cula.ion represented by bonds The decreas,
resulting from the surrender of circulation By
banks still IN operation Is S0l,110.415, and the
decrease caused by banks going into voluntary
liquidation and failing is 81, 274 $50. making
gross decrease OF $50 044 655. Offset by . tota
increase of $8, 5f9, ,265. which consists of in.
crease bv the formation of banks
of 81, ,592, ,090. and an increase of circulation
by previous existing banks to the amount
of So. 957. .I75 The affairs of five failed banks
have been closed during the year. including
among them one OF those which had failed dur
iag the year. In four out of the five tho
creditors have received payment of principal
and interest in full and there has been a bas
ance of assets transferred of the
stock nolders. In the other case. that of a benb
which failed in 1879. the total dividends amouns
81 per cent IN each a detailed account
given of the cause Of failure ard the progresS
made in iio uidarion. The total amount OF
money paid In dividends during the past year il
81 LOG 203 Al: the whole amount paid to creditors
of insolgent banks since the system has been
operation ia S29, 434 9S6 upon proved claims
amounting to SAG. 93S. 3Ss: the total assessments
stockholders, $9945. $50 OF whicn the gross
collections have been a, 632, $50
Very full statistics have been collected about
the State banks, savings banks, loan and trust
companies, private banks and banker.
throughout the country.
The suggestions made by the COMPTROLLER as
to amendments TO the laws in the form OF a
code revising and consolidating all existing
laws. with a number OF changes, each of which
is fully explained and the reasons for il are set
forth at considerable length The most I'M
portant of the changes recommended is that the
security for circulation shall be 10 per cent. Of
the capital of banks of over $50 600. ane
$4,000 for banks of which the capital exceeds
$780, 0o0 also. that the semiannual duty os